Markets

BRIAN GAYNOR: Feltex IPO – Still leaving a nasty taste

Brian Gaynor
Sat, 25 Jul 2020

BRIAN GAYNOR: Feltex IPO – Still leaving a nasty taste
Brian Gaynor
Sat, 25 Jul 2020
The Feltex initial public offering, which was 16 years ago, continues to leave a nasty taste and this is unlikely to disappear quickly.This is because Feltex shareholders want to continue their legal action against directors. To fund this, the group is endeavouring to raise at least $500,000 through a crowdfunding platform by Sept 30 with $296,100 raised to date.There is strong support for further legal action even though the courts have generally sided with the Feltex directors.Private equityIn 1996, private equity firm Credit Suisse First Bos...

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